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The Sourcing specialist III will leads cross-functional teams to develop and implement Voya sourcing strategies for complex indirect purchases/contracts in order to minimize risk and maximize value in the acquisition of goods and services. Perform spend analysis, market and vendor analysis, and supplier selection activities. Create and clearly articulate category and initiative specific negotiation strategies, managing contract drafting and leading contract negotiations of terms and conditions and pricing. Lead other activities to drive cost savings include but not limited to: demand management initiatives, vendor rationalization programs. Provide thought leadership and procurement subject matter expertise to partners across the business. Develop strong, value added relationships with business partners in order to establish Sourcing as a trusted strategic advisor.
- Experience supporting some (or all) all of the following sourcing categories: Consulting, Business Process Outsourcing, Print, Travel, and other non-IT categories.
- Recommend and implement category specific sourcing methodologies and processes to achieve Voya’s enterprise objectives and specific business unit’s strategic plans. Drive action across functional organizations and across business units to affect policies, practices, processes and procedures having an impact on revenue and profitability.
- Provide guidance for procurement and contract activities for assigned categories.
- Create sourcing strategies that support the strategic goals of customers and Voya as a whole.
- Lead the implementation/execution of proposals (RFX), strategies, initiatives, contracts/programs for complex, high-risk transactions. Understand spend analytics required to support the strategic objectives.
- Negotiate terms and conditions and pricing for purchases. Draft, redline and negotiate contract documents including but not limited to master agreements, license agreements, Statements of Work, Order Forms, NDAs, etc.
- Act as a resource to organization and senior management across multiple functions, divisions and geographic locations.
- Interact with internal/external third parties at all levels of management to support resolution of complex business issues requiring a balance of assertiveness, tact, business acumen and diplomacy.
- Achieve annual savings targets and other performance metrics as assigned.
- Other duties as assigned.
Knowledge & Experience
- Bachelor’s degree or equivalent required. Advanced degree preferred.
- Minimum 6 years extensive, broad-based experience in contracting and strategic procurement of high complexity categories and/or projects. Acts with a sense of urgency with ability to simultaneously lead multiple complex initiatives while consistently meeting timelines and milestones.
- Previous strategic sourcing experience for assigned categories is highly desired.
- Comprehensive knowledge of business principles such as purchasing, consulting services, business and contract law, licensing, intellectual property, financing and accounting.
- Ability to read and interpret contracts. Ability to draft contract language/documents including, for example, Statements of Work, Service Level Agreements, etc.
- Strong technology skills i.e. PC, internet/intranet, e-procurement; advanced Excel and PowerPoint skills required.
- This individual must be able to effectively negotiate pricing, legal, business terms and conditions with suppliers, financing institutions, consultants and service companies primarily on a domestic basis. By virtue of breadth and/or depth of experience, is recognized as a key technical advisor highly capable of translating business objectives into finite project management plans with clearly defined roles, responsibilities, and completion targets.
- Demonstrates knowledge of cost and price analysis techniques, proposal/contracting skills, project management, business management and strategic category management techniques.
- Strong interpersonal, oral and written communication skills are required. Strong team building skills are essential.
At Voya, we have identified the following critical skills which are key to success in our culture:
- Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
- Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
- Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
- Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
- Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.
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Business Process Outsourcing